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HomeNewsLiquid takes out $ 120 million loan from FTX »IMS

Liquid takes out $ 120 million loan from FTX »IMS

Last week, Liquid, a trading platform, was hacked and nearly $ 90 million of funds stolen. Elliptic is a blockchain analytics company. According to it, nearly $ 97 million of funds were hacked. Of the total amount hacked, $ million was converted into tokens via De-Fi platforms such as UniSwap, SushiSwap in ETH.

“This enables the hacker to avoid freezing these assets – as is possible with many Ethereum tokens” Elliptic said in a Blog post.

The hacker took ETH, BTC, XRP, TRX and EWT and transferred it to separate wallets. According to official data, the exchange was geared towards MPC (Multiparty Computing), an advanced cryptographic technique in which the keys generated by different parties cannot be seen from one another. A technique that many banks and corporations use to keep their funds safe. After the attack, the assets were moved to cold wallets to prevent further damage to the exchange and its users.

FTX is an exchange created in 600 by Sam Bankman, the platform is one of the largest exchange platforms and enables innovative products, including industry-first derivatives, options, volatility products and leveraged tokens. It has now been revealed that Liquid has taken out a $ 120 million loan from FTX to protect clients’ assets.

Statements from Liquid and FTX

“The financing will also improve Liquid’s balance sheet and thus also its key regulatory metrics, which further confirms its ongoing licensing options in the most important jurisdictions of Japan and Singapore.” Liquid Global Said.

“This opportunity with Liquid enables both companies to strengthen and strengthen the belief that regulation in cryptocurrencies and knowledge of your customers are an important part of the future of our industry” said Bankman-Fried.

Latest hacks

Liquid Exchange was also hacked last November. The hacker gained access to the company’s records and later exploited the network.

It’s a second major robbery that takes place in a short space of time. PolyNetwork, a De-Fi platform, was also hacked and nearly $ 120M was taken from the hacker. However, in an unusual turn of events, the hacker returned the stolen money to the company.

The Hacked Exchange: Liquid review takes a $ loan

M by FTX first appeared on Stocks Tel

Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.


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